FHA Capital Reserve Ratio Drops Below 2 Percent Statutory Minimum

摘要

The capital reserve ratio for the FHA Mutual Mortgage Insurance Fund (MMIF) dropped to 0.53 percent at the end of fiscal 2009, well below the statutory minimum of 2.0 percent, according to a report on independent actuarial studies sent to Congress by HUD.rnBecause of the shift of the home equity conversion mortgage (HECM) program to the MMIF, HUD commissioned two actuarial studies for fiscal 2009. Integrated Financial Engineering, Inc. reviewed the insurance fund excluding HECMs, and IBM Global Services analyzed the HECMs in the fund.